Marriott International's revenue rose to $5.3 billion in the second quarter, a 69.5% increase from a year ago.
The company's net income increased from $422 million to $667 million.
Group demand improved in the U.S. Marriott CEO Tony Capuano said in June that the RevPAR for group business in the U.S. and Canada was down just 1% from the previous year.
Capuano said that business travel was coming back at a more moderate pace. In the US, Marriott reported that June business nights were 9% below the same month in the previous year, and 20% below the first quarter.
According to Capuano, the small- and medium-sized businesses are back above levels of volume. Even though the bigger corporate customers are not back yet, we are still seeing improvement.
Combining business and leisure travel has emerged as a priority, with meeting planners requesting that Marriott "do everything we can from a technology perspective to make it easier to tack on a couple of leisure days to the reservation pre- or post-meeting, which is just another confirmation that," said Capu
Europe had the fastest RevPAR recovery of all of Marriott's regions this year, thanks to a robust comeback in international travel. In June, RevPAR in Europe surpassed the levels of the previous year.
China travel is being weighed down by Covid policies.
"Greater China's RevPAR declined more than 50% compared to the same time last year as a result of the lock downs in many cities," Oberg said.
In the second quarter, RevPAR increased 70.6%, to $119.37, while the Occupancy improved to 67.8% The average daily rate was up.
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